Sigma Lithium Corporation Common Shares - SGML STOCK NEWS

Sigma Lithium co-chaired a conclave at Saudi Arabia's Future Investments Initiatives Priority Summit in Brazil, emphasizing the importance of materials transition. They discussed energy transition, technology, and social inclusion. Vice President Ligia Pinto highlighted Sigma's sustainability efforts in Brazil’s Jequitinhonha Valley, leading to economic growth and job creation. Sigma also hosted a delegation from the Wharton School at its plant, showcasing Brazil's significant role in the global lithium industry and its Quintuple Zero Green Lithium product.

The summit, themed 'Invest in Dignity,' aimed at building a global order prioritizing dignity through energy transition and social inclusion. Sigma Lithium's operation in Brazil has transformed one of the country's poorest regions through substantial investments and social programs. The company’s Quintuple Zero Green Lithium aligns with its environmental and social sustainability principles. Pinto urged global cooperation to accelerate a just energy transition.

Sigma Lithium has announced its upcoming annual and special meeting of shareholders (AGSM) on July 9, 2024. The meeting, initially scheduled for June 28, 2024, has been rescheduled to allow shareholders adequate time to review the Meeting Circular and other related materials before voting. The AGSM will be held virtually via a live audio webcast, with voting details included in the Meeting Materials dated June 14, 2024. Only shareholders of record as of May 24, 2024, will be eligible to vote. Proxy voting instructions must be submitted to Computershare Investor Services by July 5, 2024. The Meeting Materials are available on SEDAR and the Sigma Lithium website.

Sigma Lithium will participate in a trade mission to China from June 5-7, celebrating 50 years of Brazil-China diplomatic relations. CEO Ana Cabral will engage in panels on energy transition and sustainable development. Sigma will join prominent Brazilian companies like Vale, Embraer, and Bradesco. In Brazil, Sigma will also sponsor and participate in energy forums organized by Columbia University and the Aspen Institute, discussing Brazil's role in the global energy transition.

Sigma aims to highlight its production of Quintuple Zero Green Lithium, positioning Brazil as a leader in sustainable lithium supply for electric vehicles. The mission is part of Sigma's broader initiative to promote the Brazilian lithium industry, which has contributed to significant social and economic development in regions like Vale do Jequitinhonha.

Sigma Lithium has announced the loading of its ninth shipment, totaling 22,000 tonnes of Quintuple Zero Green Lithium concentrate, at the Port of Vitoria. This shipment was sold to LX International, previously known as LG International, at a premium price calculated as 9% of the LME lithium hydroxide benchmark. This formula, which is final and non-provisional, is based on a fixed-floating calculation. The auction process used for price discovery is designed to ensure transparency and equitable distribution of risk and reward across the supply chain.

Sigma Lithium's management sees this deal as a significant step in commercial diversification and relationship building with South Korean industrial groups, particularly LG Group. The shipment's price surpasses the previous shipment's rate of 8.75% and reflects the company's strategy of maximizing value creation through high-purity lithium concentrate. The price formula will depend on LME lithium hydroxide prices one month after the shipment lands.

In Q1 2024, Sigma Lithium (SGML) reported a 25% price increase for its May shipment to $1,290/t. Revenues from Q1 sales of Quintuple Zero High Purity Lithium Concentrate reached $49.1 million, with sales volumes totaling 52,857/t and production volumes at 54,168/t. The company achieved a 16% reduction in cash costs from Q4 2023, with FOB cash costs at $462/t and plant gate costs averaging $397/t. Pro forma EBITDA margin stood at 35.3%, with a reported adjusted EBITDA of $5.9 million. Sigma's Board has approved the construction of a second Greentech Industrial Plant to boost production capacity to 520,000/t annually. The operational life at Grota do Cirilo has been extended to 25 years, and proven and probable reserves increased by 40% to 77 million tonnes.

Sigma Lithium (NASDAQ: SGML), a top global lithium producer, will release its Q1 2024 financial results on May 16, 2024, before market open. The company focuses on providing carbon-neutral, socially and environmentally sustainable lithium concentrate for electric vehicles. An investor conference call is scheduled for the same day at 12:00 p.m. ET. The results, investor presentation, and quarterly filings will be accessible through Sigma Lithium’s investor relations website. A webcast replay will be available after the event.

Sigma Lithium has increased its Proven and Probable Reserve balance by 40% to 77.0 million tonnes, extending its operations to 25 years. This increase allows for continued low-cost lithium production growth, supporting new processing facilities or a longer operating life. The increased mineral Reserves are feasible through open pit mining operations, maintaining a low operating cost model. Sigma Lithium continues to convert Resources into Reserves over time, demonstrating a commitment to invest in Brazil's lithium production. This significant update reflects the Company's dedication to sustainable and environmentally friendly lithium concentrate production.

Sigma Lithium, a global lithium producer, filed its full year 2023 financial statements and MD&A on April 30, 2024. The audited numbers confirmed the initial results filed on April 1, 2024. No significant changes were made from the initial results. The filings are available on SEDAR, EDGAR, and the Company's website.

Sigma Lithium announces loading 22,000t shipment with 85% prepayment at premium prices. The Company achieved a fixed price of US$ 1,333/t, equivalent to US$ 1,160/t (net of VAT), representing a significant increase over previous prices. 85% of the shipment's value has been prepaid, showcasing strong market demand and confidence in Sigma Lithium's high-purity lithium concentrate.